Set up and preheat the grill for two zone or direct/indirect cooking.
While the grill is warming up, trim excess fat off of the steak (if needed) and pat dry with a paper towel. Lightly coat the steaks with olive oil and then season the steaks with salt and pepper.
Place the steak on the hot grill (targeting 500 degrees over the direct heat) and sear over direct heat for 3 - 5 minutes or until you see the browning occur. Flip the steak over and cook the other side over direct heat for additional 3 - 5 minutes or until you see your desired crust develop.
Move the steak to indirect heat and continue cooking with grill closed for additional 8 - 10 minutes or until the steak reaches 125 degrees for rare or your desired finishing temperature.
Let the steak rest for 10 minutes and then slice against the grain and serve.